A Person Borrows $100,000 at a Simple Interest Rate R

question 94

Multiple Choice

A person borrows $100,000 at a simple interest rate r = 24%.He is to repay the loan with 2 payments,one at the end of 2 months and the other at the end of 6 months.The first payment is the same as the 2^nd payment.Determine the size of the payments,using the end of 6 months as the focal date.

• A)$46,296.30
• B)$48,076.92
• C)$53,846.15
• D)$53,925.93

---

Definitions:

Resilience

The ability of an individual to recover from adversity, trauma, tragedy, threats, or significant stress and to adapt well over time.

Plasticity

The brain's capacity to change and adapt in response to experiences, learning, and injury.

Changing Resource Allocations

The process of adjusting how resources are distributed or assigned, often in response to shifts in needs, priorities, or availability.

Multidirectional

A characteristic of development indicating that capacity can increase or decrease at various points across the lifespan, depending on a range of factors.